ABOUT THE SITE
* Location: 777 E. M.L. King Boulevard* Building size: 18,000 square feet* No. of units: 10* Sale price: $1.8 million* For more information: Lisa A. Brown, Keller Williams Realty
A neighborhood that has transformed into a hot place for University of Tennessee at Chattanooga student housing holds a building and parcel which are for sale.
The tract at 777 E. M.L. King Boulevard has an 18,000-square-foot structure with 10 units, which could house UTC students, according to real estate broker Lisa A. Brown of Keller Williams Realty.
The owner is seeking $1.8 million for the property and the brick building near the campus.
The area around the site has about 2,000 rental units under construction, the broker says.
Recently, one of the highest profile corners on the edge of downtown Chattanooga nearby will see student housing as a developer prepares to build a 456-bed, $38 million apartment building. Demolition work has started near the corner of McCallie and Central avenues where a Roanoke, Va.-based company plans to put 138 units aimed at nearby UTC students.
But, many older students prefer to rent individual properties rather than live inside the large apartment complexes, the broker says.
The MLK area also is home to several new breweries, restaurants, coffee shops and retailers.
It's estimated that about 40,000 people drive through the MLK area on a daily basis commuting to and from downtown.